61 Hemlock Rd · Rockaway, NJ 07866-2830

$550,000

3 bd · 2.5 ba · 2,252 sqft · SingleFamily public records · 49 Days on market

Built 1953 9,147 sqft lot

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +5.0/10.0
• Appreciation +5.0/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Back on Market! Move right into this beautifully refreshed home tucked away on a quiet street in Rockaway Boro! The main level features bright, open living and dining spaces, and updated galley kitchen, a brand new hall bath, and three generous bedrooms. Off the kitchen, the enclosed porch with all new windows fills the room with natural light. The new finished walkout basement with a full bath, provides versatile extra living space, perfect for a home office, media room, or extra storage area. Two driveways provide ample parking. Ideally located near shopping, public transportation, and with an easy commute to NYC this one is not to be missed.

Key facts

• Ample parking
• Enclosed porch
• Easy commute to nyc

Tags

• UPDATED GALLEY KITCHEN
• ENCLOSED PORCH
• FINISHED WALKOUT BASEMENT
• AMPLE PARKING
• EASY COMMUTE TO NYC

Property features AI

Finance

• HOA & community: Pets allowed

Exterior

• Parking: Six parking spaces; Carport attached; Driveway one-car width (see remarks)
• Security: Security system
• Utilities: Public water; Public sewer; Electric service; Natural gas; Fiber optic available
• Home design: Bi-level style; Renovated in 2025; Approximate square footage: 2252
• Construction: Wood siding; Rubberized roof; Approximate/renovated construction date
• Exterior features: Deck; Sidewalk; Corner lot; Red exterior; Storage shed

Interior

• Kitchen: Galley-style kitchen; Gas cooktop; Gas range/oven; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom includes a half bath; Three bedrooms located on the first floor
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced hot air heating (natural gas); Central air conditioning
• Interior features: Beam ceilings; Carbon monoxide detector; Security system; Smoke detector; Walkout basement; Outside entrance; Storage shed; Florida/3-season room
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $550k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $534k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#290 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety F.
• Rockaway Borough School District (suburban): math 32% / reading 50% proficiency, ranked #207 of 472 in NJ (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($4k loan paydown + $16k appreciation (3.0% local appreciation)).
• Morris County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $57k; list at $550k implies a 865% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $533,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.00% ✓
• Cap rate: 7.26%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.61×
• Total profit: $94,539
• Equity at exit: $247,304

10-year hold

• IRR: 13.0%
• Equity multiple: 2.93×
• Total profit: $297,401
• Equity at exit: $381,125

Cash invested: $154,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07866-2830

• Active inventory: 1
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $5,500 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$790 /mo · $9,478/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,155
• Net cashflow: $442

Break-even live

Break-even rent $4,941

Max offer price $550,000

Occupancy floor 87%

Sensitivity live

Price	-10% $753	-5% $597	+0% $442	+5% $286	+10% $130
Rent	-10% $7	-5% $225	+0% $442	+5% $659	+10% $876
Rate	-1.0pp $719	-0.5pp $582	base $442	+0.5pp $299	+1.0pp $154

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Swenson St Denville, NJ	3.0	2.5	2680	$5,500	$2.05	2d	1	1.15mi

Listing history 14 events

1. 2026-06-10
   status $550,000 Under Contract 49 DOM
2. 2026-06-09
   days on market $550,000 Active 49 DOM
3. 2026-06-08
   days on market $550,000 Active 48 DOM
4. 2026-06-07
   days on market $550,000 Active 47 DOM
5. 2026-06-04
   days on market $550,000 Active 44 DOM
6. 2026-06-03
   days on market $550,000 Active 43 DOM
7. 2026-06-02
   days on market $550,000 Active 42 DOM
8. 2026-06-01
   days on market $550,000 Active 41 DOM
9. 2026-05-31
   days on market $550,000 Active 40 DOM
10. 2026-05-25
    status Active
11. 2026-04-23
    status Under Contract
12. 2026-03-20
    listed $550,000 Active
13. 1978-01-01
    soldstatus $57,000
14. 1977-10-01
    soldstatus $40,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $9,478 · $790/mo
• Projected year-2 tax: $11,586 · $966/mo
• Expected delta: +$2,109/yr (+$176/mo · 22.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,000
• − Mortgage interest: −$30,809
• − Property taxes: −$9,478
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,280
• − Management: −$5,280
• − Depreciation: −$16,000
• Taxable loss: −$3,596
• Est. tax savings @ 24.0%: +$863
• After-tax cash flow: $6,164/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rockaway Borough School District
• NCES district ID: 3414100
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $77,977
• Composite: 37.93/100
• National rank: #4309
• State rank: #207 of 472 in NJ

Livability — Rockaway

• Score: 69/100
• State rank: #290
• US rank: #8630

Category grades

Amenities F Commute B- Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockaway, NJ

Population outlook (Morris County) Hauer SSP2

• Today (2025): 516,747 people
• By 2030: 524,603 · +1.5%
• By 2040: 539,582 · +4.4%
• By 2050: 548,986 · +6.2%
• By 2075: 571,326 · +10.6%
• By 2100: 561,122 · +8.6%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

+1258.0% since first listed

5 events — show timeline

• 2026-05-25 Relisted — GSMLS
• 2026-04-23 Pending — GSMLS
• 2026-03-20 Listed $550,000 GSMLS
• 1978-01-01 Sold (Public Records) $57,000 Public Records
• 1977-10-01 Sold (Public Records) $40,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $9,478 · +1.3% YoY. Source: county tax records.